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| Image Credit: Wikimedia Commons and Jet Synthesys |
Warner Music Group (WMG), an entertainment and record label conglomerate, and JetSynthesys, a digital entertainment and technology firm, have established an exclusive strategic agreement.
JetSynthesys will be WMG's official India partner for all things related to music label licencing and acquisition, artist management, event management, original content development across music, short videos, and films, as well as mobile gaming and esports, as a result of this partnership.
JetSynthesys will also invest $200 million in the Indian entertainment sector over the next three years to strengthen its position in the market, according to the company.
India is one of the strongest emerging markets internationally when it comes to entertainment, spanning formats and verticals said Perez-Soto Alfonso Javier, President, Warner Music Group Emerging Markets. In the previous several years, JetSynthesys has experienced tremendous growth, particularly in gaming and esports, as well as digital products and platforms. They have a thorough awareness of the Indian market, as well as amazing inventiveness and technological prowess, and we couldn't have asked for a finer partner to help us improve our entry into the country.
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“We're ecstatic to join together with Warner Music Group and become their Indian market partner. We seek to improve the ecosystem and contribute to the growing sector by responding to the rising demand for innovative entertainment avenues, with a firm pulse on changing consumer preferences and behaviour when it comes to entertainment. We also hope to expand our products at JetSynthesys' Global Music Junction as a result of this partnership,” said Rajan Navani, Vice Chairman and Managing Director of JetSynthesys.
“Warner Music Group made its official debut in India last year, and we've been working hard to expand our footprint there ever since. “Our partnership with JetSynthesys not only helps us strengthen the music market in India, but it also allows us to bring in dynamic high-interest verticals like gaming and esports,” said Jay Mehta, Managing Director, Warner Music South Asia.
The alliance and funding infusion, according to Rajkumar Singh, CEO of Global Music Junction Pvt. Ltd, JetSynthesys' digital entertainment venture, would help the company develop the ecosystem further, reinforce existing forms of entertainment, and establish innovative formats.
JetSynthesys has seen substantial success with global publishing agreements such as WWE, Square Enix, and the Hollywood blockbuster Passengers, as well as Floyd Mayweather, thanks to a focused focus across gaming and digital entertainment.
Most recently, the firm bought Chennai-based Skyesports to establish Jet Skyesports Gaming Pvt. Ltd. in an effort to grow esports at the grassroots level in India.
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